Key Attributes of A Homebased Business Owner

Attributes to a successful business

Any entrepreneur, and especially any homebased entrepreneur, must bring these attributes to their business:

1. Independence -- You need to be able to work well independently. Much of the support found working for someone else won't be found at home. You can't turn to a supervisor or co-worker and ask for help. Therefore, it is very important that you are a self-starter that can critique and provide feedback regarding your own work.

2. Risk-taking -- Without the ability to take risk, you won't go very far with your homebased venture. There are no guarantees that your business will succeed. If you want the security of a guaranteed income, stay as an employee of another company.

3. Innovation -- Most people associate the entrepreneurial spirit with the ability to innovate. Entrepreneurs are willing to try something new, to look at things differently, to find a niche and fill the void.

4. Motivation -- Just because you work for yourself doesn't mean you can work less. Many times it means working longer hours and wearing more different hats than you did working for someone else.

5. Experience -- You're going to need the necessary experience in the field of business you choose to start as well as a background in general business basics. There are a great many entrepreneurs that have great ideas and a lot of talent, but don't know the first thing about running a business.

Remember, most homebased businesses are run by one or two people, so you generally won't have the convenience of turning to someone in your business for the answers, and there won't be anybody hanging over your shoulder making sure that you do things. It's up to you, and if you don't know about the basics of running a business, you'd better get a quick education.

6. Organization -- You need to plan your time and organize your activities efficiently so that you develop a schedule and adhere to that schedule.

7. Ambition -- You don't have to be ambitious to the point of greediness, but you should have enough ambition to keep going in the face of adversity. Remember, many people won't take you seriously because you operate from your home, but you can't let that get you down. You have to be persistent enough to get around their prejudices regarding homebased businesses.

Some of these attributes are inherent. Others can be learned. Successful homebased entrepreneurs strongly suggest joining associations, subscribing to as many magazines and reading as many small-business books (especially in your area of concern) as possible. Ask other people in the same type of business about situations they've encountered and what they did. Learn from their mistakes so you won't make them yourself.